Kiwis will soon have greater protection from online scams as Google rolls out Financial Services Verification in New Zealand, a step forward in the company's decades-long efforts to combat scams and create a safer online experience.
Starting November 7, select advertisers of financial products and services will be required to complete a verification process before they can run ads on Google's platforms. For most advertisers, this will entail obtaining verification that they are authorised by New Zealand authorities, including the Financial Markets Authority and Reserve Bank of New Zealand, to ensure only legitimate financial service providers can advertise on our platforms. We believe this will reduce the risk of Kiwis falling victim to fraudulent financial schemes online.
Scammers are constantly evolving and devising new tactics to evade detection, making this program a defence in ensuring only authorised financial providers can reach users on Google. By verifying select advertisers, we hope to give Kiwis greater peace of mind when interacting with financial services online.
This program builds upon Google's existing multi-layered approach to combating fraud and scams, which includes strict policies against misleading financial information, advanced enforcement using machine learning and human review, and an advertiser verification program launched in 2020. These efforts work together to protect users and maintain a safe advertising ecosystem.
The support of the New Zealand Government is critical to the success of this program, and we appreciate their collaboration.
Google will continue partnering with the New Zealand government and industry leaders in the ongoing fight against online scams. Together, we can create a safer and more secure online experience for all Kiwis.
